1. De-registration
- No outstanding amount and liability due to 3rd party (such as debt, document filing duty to government etc. )
- De-registration probably take several months;
- Liable to annual license renewal
As the process takes several months, client needs to pay annual license renewal fee when it is close to due.
Otherwise, HK government will consider there is unpaid government debt and not approving the de-registration;
2. Winding Up - Can be started even there is outstanding amount due to 3rd party;
- The company must provide the management account in order to identify the company’s financial status;
- Receiver will be appointed to take over the management power (usually appointing an accountant);
- Takes several months to complete.
